State to auction unclaimed property

Friday

Apr 25, 2014 at 2:38 PMApr 25, 2014 at 2:38 PM

Staff reports

Select items from the State Treasurer's Unclaimed Property Division will soon go up for bid on eBay.com.The items will first be displayed at the State House in Boston on Monday, April 28, and will subsequently be shown in Yarmouth, New Bedford, Springfield, and Worcester, all leading up to the online auction going live on Saturday, May 3.The traveling showcase, which represents only a portion of the lots up for bid, will include items such as gold, silver, jewelry, collectible currency, and high-end watches. The vast majority of items come from safe deposit boxes with contents that have gone unclaimed for a period of at least nine years. After a lengthy period of going unclaimed, the state is legally permitted to liquidate these items at auction.On May 3, 100 lots will be posted on eBay for bid, followed by a gradual release of additional items over the following eight weeks. In all, the Treasury expects to put approximately 1,200 lots out to bid.The Treasury also maintains a comprehensive list of approximately $2.4 billion in unclaimed monetary property, such as stock, insurance payments, and bank accounts. Individuals can search to see if they own such property by visiting www.findmassmoney.com or by calling 888-344-MASS.

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